These firms hope that their focus on specific regions might offer an edge over Uber's global approach. "Local understanding, know-how, and operations are critical differentiators, especially when it comes to scaling locally, navigating regulatory environments and managing payments." said GrabTaxi CEO Anthony Tan to Bloomberg. In addition to making things easier for customers, the companies also intend to share market knowledge and other resources.
Uber continues to expand worldwide, like with recent growth into Scotland, but its big target is China. According to Bloomberg, the ride sharing giant wants to raise another $2.1 billion largely to finance proliferation there.
However, Uber faces increasing challenges to that growth. Didi Kuaidi invested in $100 million into Lyft in September, and they agreed to share tech and give joint access of their services to customers. The Chinese ride sharing company also put money into GrabTaxi as part of a strategy to fight Uber's expansion by strengthening its competitors in other markets. In addition, Ola has become a major player in the industry in India with a valuation around $5 billion.
December 3, 2015
Our commitment to transform the future of our cities doesn't stop with the US. Today, we're announcing new international partners GrabTaxi and Ola, expanding the global ridesharing agreement we first introduced with Didi Kuaidi earlier this year. In addition to China, we've now extended Lyft's footprint to Southeast Asia and India, covering nearly 50 percent of the world's population.
When we think about international expansion, we think about our community, and ensuring every passenger has access to safe, convenient, and reliable rides everywhere they travel. By establishing strategic partnerships with local market leaders Didi, GrabTaxi and Ola, we're able to remove many of the pain points and language barriers that often come with foreign travel.
Travelers simply open their Lyft app like they would at home, request a car, and input their destination. This will all be seamless to the passenger and driver. Starting early next year, just open the Lyft app and ride.
We're thrilled to partner with Didi, GrabTaxi and Ola to make more progress toward our mission of reconnecting people and communities through better transportation.